Even though we run an economy largely dependent on crude oil and have witnessed improvements in crude oil revenue, things are not improving because loan repayment Is eating up virtually all the money coming in.

That makes me ask, "what did we do with the loans"?

RepoMan007:
Even though we run an economy largely dependent on crude oil and have witnessed improvements in crude oil revenue, things are not improving because loan repayment Is eating up virtually all the money coming in.

That makes me ask, "what did we do with the loans"?

the money Baba Buhari borrowed for his forty thieving ministers and those under them to steal base on Contract

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Trillion dollar question!

RepoMan007:
Even though we run an economy largely dependent on crude oil and have witnessed improvements in crude oil revenue, things are not improving because loan repayment Is eating up virtually all the money coming in.

That makes me ask, "what did we do with the loans"?

Looted and mismanaged.There is no clear road map to follow

It was looted. The illegitimate criminal also came to loot the remaining. Until Nigerians chase away these APC criminals, Nigerians will eat grass

I understand the second Niger bridge between delta state and anambra state was long overdue and neccesary to avoid sudden breakdown of the old bridge.
I understand things like agricultural schemes to boost food security.

But these things can barely account for 20% of the loans so what did we do with loans?

They were looted through subsidy, forex round tripping, scam social investment programs, and contracts.

Na wa o!!! Oga the answer is very, very simple.

It was all spent on various forms of wasteful expenditure intended to help the common man...and for sure that's what the common man voted for in 2015!

The biggest share of spending was on fuel subsidy, forex subsidy and electricity subsidy.

These are publicly verifiable facts that can be found in reputable sources on the internet.

Good Luck to Nigeria.

IbeOkehie:
Na wa o!!! Oga the answer is very, very simple.

It was all spent on various forms of wasteful expenditure intended to help the common man...and for sure that's what the common man voted for in 2015!

The biggest share of spending was on fuel subsidy, forex subsidy and electricity subsidy.

These are publicly verifiable facts that can be found in reputable sources on the internet.

Good Luck to Nigeria.

Using the current petrol subsidy figures as example, how many Nigerians can afford petrol at N700? Yet the consumption figure are so high. I am sure few years from now, you will say the huge subsidy was enjoyed by Nigerians whereas it was largely used up by smugglers.

RepoMan007:

Using the current petrol subsidy figures as example, how many Nigerians can afford petrol at N700? Yet the consumption figure are so high. I am sure few years from now, you will say the huge subsidy was enjoyed by Nigerians whereas it was largely used up by smugglers.

I've never EVER said the subsidy was SOLELY enjoyed by ordinary Nigerians.

Nigerians enjoyed many advantages from cheap subsidized fuels but corrupt and connected Nigerian elites enjoyed the MOST benefits.

Same thing with subsidized and rigged UNIVERSITY EDUCATION market. Many Nigerians enjoy benefits of education from cheap Federal Universities, but the MOST benefits flow to corrupt and connected elites who can get into the best courses like medicine, engineering and such.

Another example - APC's national school feeding program. Surely some children were fed, but the MOST benefits flowed to those corrupt elites who administered the programs and their friends who got CONTRACTS to supply the food.

How much simpler do I need to make it? The huge disadvantages of subsidies and fixed prices are clear once anyone cares to apply logical thought to the issue.

Good Luck to Nigerians.

Looted by same government officials.
Nigeria is the only country that collects loans and the loan is looted by government officials and nothing will happen.

Contracts are over inflated and contractors will go to Church to give testimony of how they won a multi million naira contract then finally, they will pay what is now called Corporate tithe from such over inflated contracts.

Nigeria is really a joke.

ozo13:
the money Baba Buhari borrowed for his forty thieving ministers and those under them to steal base on Contract

Buhari's huge loans are not the reason for the current economic woes we have found ourselves in; Tinubu's thoughtless economic policies are the major reason.